Celeste Copper Corporation, the Canadian listed company which in May announced an agreement to acquire a 25% stake in the South Crofty project in Cornwall, UK has published an initial estimate of mineral resources in five near surface deposits on the property. Using a tin equivalent economic cut-off of 0.30%, the inferred resource is estimated at approximately 1,331,000 tonnes of 0.44% tin, 1.08% copper and 0.66% zinc, this estimate conforming to the internationally recognised Canadian CIM reporting standards. In a statement the company said that “the resource reporting at this stage does not take into account additional possible ‘credit’ commodities present including indium, tungsten and silver, which could potentially add value to the resource.”
The technical report carried out for the company by Micromine UK recommends an ongoing exploration and development programme costing some UK£ 4 million. Celeste has various option agreements to acquire up to 100% of the project. Denis Clement, President and CEO of Celeste commented “We are pleased to have received the report as it is an important step towards completing the acquisition of an interest in Cornish Minerals Ltd. This mining district has a very long and significant mining history and we believe this project will help to once again bring tin mining to the forefront in this region.”
